Religare Enterprises — religare did some illegal t+% transaction on my account without informing me or my rm

Religare Enterprises — religare did some illegal t+% transaction on my account without informing me or my rm

G gargee123 from Bengaluru, Karnataka Aug 31, 2022 This thread was updated on Aug 31, 2022

Religaare did a illegal t + 5 transaction on my trading account without informing me or my relationship manger. Because of that i faced a loss of 19 000 rupess inr. Moreover they should be choosing some profit making shares to get the margin amount, or the share which the customer got from their margin amoungt. But they intentionally sold a heavy loss equity because so that i get a heavy loss.. This shows how much they care about theit existing customers. This company should be banned. Its the worst brokerage company i have ever seen in india. Moreover they have given me the phone number of the rm and he told that he dont know anything about the transaction. So basically these transactions were done illegally winthout informing me or the rm. Please compensate the loss which i faced because of this illegal transaction. My id is gn1239 Was this information helpful? No (0) Yes (0)
Religare Enterprises customer support has been notified about the posted complaint. Verified Support Sep 28, 2020 Religare Enterprises Customer Care's response Dear Ms. Dutta, This is in continuation to our e-mail and subsequent telephonic discussions held with our official regarding liquidation of 23 shares of L&T happened on 18.09.2020. We wish to re-iterate that it has been made mandatory for trading member to liquidate any unpaid securities on T+5 day in order to recover client dues and intimation with regard to above changes was sent to you at your registered email id through e-mail on 22.02.2020, receipt of the same has also been acknowledged by you during the discussion with our official. Please note that your equity trading account was in continuous debit against the position created by you through your own login on 10.09.2020 and intimation with regard to the same was given to you in due course through SMS on your registered mobile number as well through margin statement on your registered e-mail id However since the debit was not cleared hence we were constrained to liquidate the position on 18.09.2020 in order to recover the debit. Further, as regard to your concern regarding selecting share to liquidate to recover the dues, we would like to state that liquidation is system driven process and client’s positions is subject to liquidation based on parameters which is combination of the client portfolio, market volatility/scrip volume etc.. Also, during the discussion with our official you were also offered to reinstate the positions as the price of share was running at lower than the liquidated price however you chose otherwise. In case you require any assistance in the matter, you may get in touch with our official at +[protected]/ +[protected]Monday to Friday between 9:30 AM to 6:30 PM - IST) or write to us at [protected]@religare.com or [protected]@religare.com. Warm Regards, Religare Broking Oct 01, 2020 Updated by gargee123 Hello, Religare please dont fool other people by telling lies. When did you offer me to reinstate the positions . Please let me know the timing of the call or any records for the same. The Phone number of the RM which you gave, he dont know anything about my account and dont know about the transaction that happenned illegally on my account. when he checked a lot, he came to know that the transaction has happenned in some part of kolkata, which is not my branch . if you care so much for your customers, you could have informed about the T+ 5 some 2, 3 days back only. You cannot just send one message to the customer at 6am and do the illegal transaction at 9:30Am the same day. this is inhumane.Also you had the intention to destroy customers capital amount. and you manually targetted that share where the customer is already facing a huge loss . You could have squared off that share where customer used your margin amount and is there was any other loss to be recovered, then you square off some other share. The entire activity was completely illegal and inhuman . Please someone let me know how to report these guys and file a case against them in court. Oct 01, 2020 Updated by gargee123 Religare, I need the call records which shows that you offered me to reinstate the positions as the price of the share was running lower than the liquidated price. Failure of which, i will drag you to court and please I request all the public and rrespected officials of the consumer court to ban this brokerage firm ASAP. They are sitting just to loot their customers Oct 01, 2020 Updated by gargee123 to reinstate the position, I need the entire amount which I lost because of you guys. the price at which you sold the 23 LNT shares plus the av price at which I bought LNT. Then only I can reinstate the same. there was a loss of 12000 which I would never have done. My average buying price was 1450 and you sold the share at 900. so there was a loss of 550*23=12650. Please return this amount ASAP then only I can reinstate the share back.
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